Public finance

Municipal finance professors Justin Marlowe and Martin Luby wrote the paper after fielding dozens of calls about "this otherwise esoteric corner of public finance."

The charges related to implementation and enforcement of material nonpublic information policies and Puerto Rico bonds.

Muni data is complicated, confusing and unstandardized, and analysts say there's a cost to that. 

The top five bond financings totaled more than $7 billion.

"In the aftermath of this week's Treasury yield move lower, MMD-UST ratios have reached short-term highs," Barclays strategists said.

As an alleged fraud scheme puts a spotlight on due diligence, some say it may be time to rethink practices in that area amid the rise of AI.

The immediate effect of tariffs is expected to manifest in the country's ports, which was the only sector of infrastructure to earn a "B" grade in the ASCE's Report Card.

If the MSRB pursues a pre-trade transparency initiative—though its necessity is debatable given the private sector has already addressed this need—it should leverage existing tools and services used by market participants.

Lawmakers have until late this month to decide on a mix of cuts and taxes acceptable to the governor to close a $16 billion shortfall over the next two budgets.

"With the initial announcement proving to be more aggressive than expected, the market responded overwhelmingly negatively," said Principal Asset's Seema Shah.

As the market absorbs the effects of the tariff rollout industry analysts are predicting a heavy dose of uncertainty in several key sectors of the municipal bond market.

Tolling on the Belle Chasse Bridge is expected to start Tuesday.

At noon Thursday, muni yields had been bumped up to 12 basis points, depending on the curve, while UST yields rallied, with yields falling 13 basis points on the short-end.

Alpine School District, which will be split into three systems, wants to sell up to $238 million of lease revenue bonds to finance school construction.

Transportation Secretary Sean Duffy said there are about 3,200 announced projects that are awaiting formal grant funding agreements, 950 of which were announced right before President Donald Trump took office.

Parity Plus gives muni issuers increased transparency and resources to determine market demand prior to a bond sale.

Details surrounding the tariffs — which could be anything from reciprocal tariffs to finally implementing delayed tariffs on Canada and Mexico and on pharmaceuticals — have remained unclear, but uncertainty has plagued the market for weeks.

Moody's Ratings upgraded Nebraska's issuer rating to Aaa from Aa1 on Monday. It also upgraded the state's $24 million certificates of participation to Aa1 from Aa2.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

Washington Gov. Bob Ferguson told lawmakers approving an unsustainable budget would put bond ratings at risk.